Supports/Resistances Indicator for Metatrader 4

Supports/Resistances Indicator for Metatrader

Supports/Resistances indicator (S/R indicator) for Metatrader 4 is one of the main technical indicators used by traders because of its importance regarding market psychology and supply/demand. We should think of supports as a floor and resistances as a ceiling, with prices moving up and down between them.

You can find the download form below.

 

Features

  • Automatically draws Supports/Resistances lines.
  • Distinguishes short-term lines from mid-term and long-term lines.
  • Colorful Supports and Resistances for a better visualization.
  • Changes from resistance to support and vice-versa once broken.

 

 

How to use Supports/Resistances

Understanding how the S/R indicator works is fundamental to predict where a trend is going. By knowing if a trend is likely to reverse or to breakout, a trader can choose whether to open a long or short position.

AT Supports/Resistances allow traders to choose between drawing only long-term S/R’s, or both long-term and short term. No more going back to find S/R’s, start using this indicator to automate the process.

 

Read more on our article about Supports/Resistances

 

 

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